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Oct 9, 2012 4:00pm EDT
you characterize business the last three months? >> maria, good hearing your voice. the economy really continues to misfire and you see alcoa is really on the business side in high gear. we obviously in this environment focus on the things we can control. we got one thing there, two major issues were overshadowing it a little bit. a civil litigation case we moved out of the way and mediation, which has been pending there since 1989. that's gone. revenues, $5.8 billion. performance is basically paying off. we're hitting profitability highs. in the upstream business, you actually see when you open the hood that there's strong productivity underneath it and that we're adjusting the structure. that pretty much gives an idea of what's happening in the quarter here. >> a couple points, klaus. you mentioned that settlement with alba. is there any reason to believe there's more to come on this whether or not other lawsuits sort of carry on in the next quarter and the next quarter, or can you categorically say this issue is behind? >> well, the civil settlement is behind us. that's one thing. i
Oct 10, 2012 4:00pm EDT
everything but the kitchen sink. the disparity between the stock market and the reality of the economy is the spread is very wide. anticipation of the uncertainty. you know, we've been talking for weeks, months, the fiscal cliff. here's the correction. i'll go along with it. yes, i think market's going to work its way lower. >> dan, are you nervous that all four of you agree and are nervous? >> i'm not really that nervous. >> when we get 5% corrections, they're over and done with before we have a chance to act on it. if you get a 5, even 7% correction, you want to use that opportunity to buy stocks that may be down 8 to 9%, 10%, perhaps. >> what are you going to buy here, david? >> i'll give you a few names. on a smaller cap site, itt, which is a spinout. about a year ago they spun out their defense and water business. i think the management is very shareholder driven. the yield is compelling, and they're going to grow the yield. another name that looks compelling to me is the housing market continues to improve. lowe's, very shareholder driven. valuation at a discount to home depot. i
Oct 12, 2012 4:00pm EDT
? >> in the near term, we very well could. look what we talked about here. you got the economy concerns, earning concerns, election concerns, european concerns. our take is a lot of those things already baked into the cake. remember, the market's forward looking. an easy way to quantify this, look at the vix options. we've noticed a huge surge of vix call ads over the last month. what does that mean to someone listening? that's a lot of concern out there. obviously we just said a lot of concern. look at the last two years. we did this study the last two years. we saw vix call ads just like the last month. they all marked major bottoms. it has been happening for three and a half years now. we still like the market. >> show that vix chart again, if you want to. the fear indicator has been a contrary indicator. when it's up high, that usually signals a market bottom. we're at a year's low right now. >> everybody's complacent. >> doesn't that signal maybe we're closer to a top than a bottom? >> you're right, bill. you bring up a great point. the interesting thing about the vix, it actually existed b
Oct 8, 2012 4:00pm EDT
of the economy, 3 1/2 years off the bottom of the market, up 115 some odd percent, and yet sentiment still remains extraordinarily negative, with people putting money into bond funds and taking the most overvalued asset class and taking money out of equity funds. so, the sentiment is more reflective of a market bottom, not a market top. >> hank, at the same time it looks -- >> guys, i don't think sentiment is quite as negative as the gentleman is stating. let's not focus on what they say. let's focus on what they do. last month we saw huge inflows into u.s. stock etfs. $18 billion versus $3 billion in august. in addition to which this entire rally since the end of june has been predicated on multiple expansion. that's positive sentiment. none of this has anything to do with economic growth. because the fact. matter is, it's just not there. profit growth isn't there, either. we're going to be down 2.6%. i think sentiment, actually, is way stronger than what the earnings would suggest it should be. >> scott, give us some takeaways of what people should do here as they look forward earning se
Oct 11, 2012 4:00pm EDT
confidence in the overall market, in the overall economy? >> i think you're beginning to see hints of that. it doesn't mean it's all clear. the reality that we had today, for example, was really just everybody's perception that the real estate market is just going to start getting better and it's an upward swing from there. >> two premier names in the industry there in century 21 and caldwell banker. we were talking during the break, you're watching also so-called secondary ipos, those companies already public that are issuing new shares to the market. those have done very well as well. >> bill, i got it tell you, there has been such a resurgence in the filings of secondaries and pricings. it's on a five to one basis versus the regular ipos. our business is now almost completely focused on what happens between 4:00 and 5:30 when these deals come out. huge cash available. these deals are working. it's another thing to address michelle's issue. the underwriters have changed from the facebook times where they're pandering to the issuer. now they're worried about the investor. these discounts
Search Results 0 to 4 of about 5